LEFKARA GROUP, LLC v. FIRST AMERICAN INTL. BANK

651678/13. 1930.

150 A.D.3d 450 (2017)

2017 NY Slip Op 03708

57 N.Y.S.3d 2

LEFKARA GROUP, LLC, Appellant, v. FIRST AMERICAN INTERNATIONAL BANK, Respondent.

Appellate Division of the Supreme Court of New York, First Department.

Decided May 9, 2017.


Pursuant to the Revolving Credit Master Note under which defendant bank extended to plaintiff a $300,000 line of credit to complete construction of a building plaintiff was developing, available funds could be reduced if the bank deemed the collateral insufficient. At the time the bank delayed or refused to make a disbursement under the line of credit, a problem with the connection to a sewer had been discovered but the scope, extent, or cost of correcting it was unknown...

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